The content is accurate at the time of publication and is subject to change.

As I understand you want to apply for a new credit card but high annual fee deter you from it.

I can assume that this card has some reward programs and different perks. If so, make some calculations and see if these rewards cover the annual fee. As a rule most credit cards with rewards have annual fee and in most cases it becomes a zero annual fee due to these rewards.

Next, maybe this card has some services which are the reason of annual fee. Then you have to decide whether you need that and more over, whether you are ready to pay for that.

If none of these reasons explain the annual fee then it may worth shopping for another card with no annual fee or with rewards program.

As for lowering annual fee, it is true for existing credit cards but not all the time. If you have a solid credit history and run your credit perfectly you may ask for reduction. But, I’m afraid, rare credit issuer will agree to do this.